Published on 28th May 2012
"Russian billionaire Mikhail Fridman resigned abruptly Monday as Chief Executive of TNK-BP Ltd, a sign of deepening tensions between BP PLC and its Russian partners at their 50-50 joint venture. 'This represents a further breakdown in the relationship between TNK-BP's shareholders,' said a person close to the Russian shareholders, a consortium of Soviet-born billionaires led by Mr Fridman and known as AAR. 'The Russian shareholders have lost faith in BP as a partner,' the person added," says the Wall Street Journal.